Sales-related and purchase-related transactions using periodic inventory system Instructions Chart of Accounts Journal Instructions The following were selected from among the transactions completed by Babcock Company during November of the current year Nov. 3 Purchased merchandise on account from Moonlight Co, list price $85,000, trade discount 25% terms FOB destination, 2/10, 1/30. 4 Sold merchandise for cash, $37,680. The cost of the goods sold was $22,600 Purchased merchandise on account from Papoose Creek Co., 547,500 terms EOB shipping point 2/10, 1/30, with prepaid freight of 5810 added to the invoice Retured $13.500 (518,000 list price lets trade discount of 25%) of merchandise purchased on November 3 from Moonlight Co 8 Sold merchandise on account to Quinn Co. 515.600 with terms 15. The cost of the goods sold was $9.400 13 Paid Moonlight Co on account for purchase of November 3, less return of November 6 14 Sold merchandise on VISA $236,000. The cost of the goods sold was $140,000 15 Paid Papoose Creek Co. on account for purchase of November 23 Received cash on account from sale of November 8 to Quinn Co. 24 Sold merchandise on account to Rabel Co. 556,900 terms 1/10, 1/30. The cost of the goods sold was $34,000 28 Paid VISA Service fee of $3,540 30 Paid Quinn Co. a cash refund of $6,000 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,300. Journakze the entries to record the transactions of Babcock Company for November using the periodic inventory System Refer to the Chart of Accounts for exact wording of accounts Check My Work & more Check My Work uses remaining